HAL files DRHP with SEBI

The Government of India has approved the sale of a 10 per cent stake in the Hindustan Aeronautics Ltd (HAL) – a defence public sector undertaking. Accordingly, HAL has initiated the process of Initial Public Offer (IPO) with the filing of the Draft Red Herrring Prospectus (DRHP) on September 29, 2017, with market regulator SEBI. This is a major milestone towards listing of the defence PSU which is slated for partial disinvestment by the Government of India says T. Suvarna Raju, CMD HAL.